CBI chargesheets RCom, ex-LIC chief investment officer in Rs 3,750-cr cheating case
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The CBI filed a charge sheet against Reliance Communications and former LIC officials in a Rs 3,750-crore cheating case on October 3, 2026.
- ✓The agency said the accused diverted funds from LIC’s 2012 investment into other group companies.
- ✓This caused a wrongful loss to LIC while the accused got wrongful gains.
Story at a Glance
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- MARKET
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- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The CBI has chargesheeted Reliance Communications, two former Reliance ADA Group executives and a former LIC Chief Investment Officer in the case.
The CBI has filed a charge sheet in the Rs 3,750-crore cheating case against Reliance Communications Ltd. (RCom), former executives of the group and a former Chief Investment Officer of Life Insurance Corporation of India for causing wrongful loss to LIC, officials said on Saturday.
The CBI investigation so far has revealed that, in 2012, LIC subscribed to NCDs worth Rs. 1,500 crore issued by Reliance Communications Ltd. on the basis of serious misrepresentations, according to the central agency.
CBI names RCom, former executives as accused
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